AUDUSD broke below 1.0177 support

By IBT Staff Reporter On 09/19/11 AT 10:41 PM

AUDUSD broke below 1.0177 support and reached as low as 1.0148. Key resistance is at 1.0398, as long as this level holds, downtrend from 1.0764 could be expected to continue, and next target would be at 1.0050 area. However, a break above 1.0398 will indicate that the fall from 1.0764 has completed, then the following upward move could bring price back to 1.0800-1.0900 area.